XForceGlobal, a top crypto analyst, has shared a macro analysis on PEPE memecoin. In a tweet, XForceGlobal discussed two potential scenarios for the coin’s future performance. The analyst begins by stating that they have exited their position in $PEPE, despite seeing some potential for further upside. 

Notably, XForceGlobal’s position yielded a 197% gain from the wave 4/B bottom potential at the 0.618 Fibonacci level. However, the analyst suggests that a rational approach would be to consider a pullback to sustain the bull market.

According to XForceGlobal, if wave 5 is complete, a substantial correction for wave 2 could be on the horizon. Given the 1,600% move in the past year, a 50-80% correction is possible. Nonetheless, the analyst emphasizes that the bottom of the eventual wave 2 would be extremely bullish if the memecoin ecosystem persists.

The second scenario proposed by XForceGlobal is that wave 4 is still unfolding on the primary degree (in yellow). This could mean either a rare wave 4 as a running variation or a deeper C wave that breaches the previous wave A to complete the expanded variation. However, the analyst notes that the size comparison of waves 1-2 and 3-4 downgrades this idea to an alternative scenario.

Despite both scenarios suggesting an eventual pullback, XForceGlobal highlights that the markets do not seem interested in $PEPE creating a new all-time high. Moreover, the analyst acknowledges the possibility of being wrong but maintains a rational stance.

Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!

Sponsored

Read also: Is Now a Good Time to Buy Altcoins? Why Analyst is Bullish on Alts: Arweave ($AR), Solana ($SOL), ONDO and PEPE in Focus

The macro analysis by XForceGlobal provides insights into the possible future performance of Pepe Coin ($PEPE). The first scenario proposes that if wave 5 is complete, a substantial 50-80% correction for wave 2 could occur, following the 1,600% move in the past year. 

Moreover, the second scenario suggests wave 4 may still be unfolding, either as a rare running variation or a deeper C wave breaching the previous wave A. Despite the eventual pullback indicated in both scenarios, XForceGlobal acknowledges the markets’ lack of interest in PEPE creating a new ATH and the potential for being wrong while maintaining a rational stance.

Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.

The post PEPE Meme Coin Price Prediction: Is a 50-80% Correction or New ATH on the Horizon? appeared first on CaptainAltcoin.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

175 +